The latest BLS Job Openings and Labor Turnover (JOLT) report [DATA HERE] reflects a headline of 4.3 million U.S. workers quitting in December. However, that number is 161,000 fewer quits than November. The job openings are starting to fill up.
While there is evidence the mandatory vaccine requirements are still working through the job market, we are still about another month away before the fog clears from the private sector employment data.
This Friday we will see the unemployment data from December, but in the interim this JOLT’s report is tracking with CTH expectations.
The primary driver of the quits rate has been inflation. Workers seeking higher wages in an effort to deal with inflation can get faster paycheck results by switching jobs rather than asking current employers for more money.
We have been watching this trend for several months. However, the rate of job-jumping is slowing down as the available jobs to jump into are fewer, and the vaccine mandate impact is settling down.
Despite the number of job openings, blue collar workers are starting to see job vacancies decreasing. The service industries around accommodation, food services and basic dirty fingernail positions still have many vacancies; this is the epicenter of where the job jumping takes place. Employment in durable goods manufacturing is at that phase where things are about to get sketchy for tradespeople and union workers.
The white collar jobs are static and/or slightly downsizing. The total number of hires was 6.3 million for December, a drop of 333,000 from prior month. The number of people hired in professional and business services dropped by 159,000.
White House Chief of Staff, Ron Klain, was the one who leaked the Breyer retirement, likely in an effort to change the narrative of negative stories that continue to overwhelm the Biden team.
“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”
Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.
As the working class Canadians rally behind their blue collar truck drivers, the invisibility of strong, opposing voices to the leftist government they are challenging is brutally obvious.
Canadian authorities in the province of Alberta have tried and failed to get the Canadian truckers to back down from their border blockade. The U.S. truckers are supportive of their Canadian allies, and both groups are united in the effort. The blockade is a protest against US and Canadian governments mandating that truckers must be “fully vaccinated” against Covid-19, which came into effect on January 15.